10 Interesting Fact About The history of currency and money
10 Interesting Fact About The history of currency and money
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The first currency used is seeds, such as wheat and corn, in ancient Egypt in 3000 BC.
The term money comes from the German word Geld, which means goods or objects.
gold and silver used as currencies in ancient times, and in the 18th century, they became the standard used by countries around the world.
In the 7th century, China used paper as a form of money, known as Jiaozi.
In the 17th century, the Dutch company, VOC, created the first banknotes in the world, known as the dollar Leeuwendaalder.
In the 19th century, the United States scored their first banknotes, called Greenbacks.
In 1971, the United States ended the use of gold standards, which marked the end of the Bretton Woods monetary system.
In 1999, the European Union introduced Euro as their single currency, replacing the national currency in most of its member countries.
Some countries, such as Zimbabwe, Venezuela and Germany in the 1920s, experienced hyper inflation, where their currency value dropped dramatically.
At present, blockchain and cryptocurrency technology such as bitcoin is a new alternative in the form of digital money that does not depend on the central bank or government.
